Paper Details

Name: Harpreet Kaur
Country: India

Year: 2023
Volume: Volume-10, Issue-1 (January-June)
Page Number: 12-19

Indian economy has registered higher economic growth in past few years. This growth rate has been
averaged around 7 percent for last decade gaining title of fastest growing major economy. Global
institutions have been very optimistic about India’s future growth performance given strong democratic
framework and demographic indicators which are bound to keep demand as well as supply high. This
optimism is also reflected in foreign investment inflow and coupled with high savings rate, growth rate
will not be an issue for Indian economy in short term. However, the high growth rate of world’s fastest
growing major economy was not analogous with rate of employment and poverty reduction. India
continues to have low socio-economic parameter compared to other countries. Therefore, it is clear that
growth has not benefited all. We need a rapid growth that reduces poverty and creates employment
opportunities, access to essential services in health and education especially for the poor, equality of
opportunity, empowerment through education and skill development, employment opportunities
underpinned by the National Rural Employment Guarantee, environmental sustainability, recognition
of women’s agency and good governance. This type of growth which covers all the sections of society
is termed as inclusive growth.